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Kohlberg Kravis Roberts & Co. Provides $66 Million Refinance For Barings Core Property Fund Multifamily In Chula Vista

Property Image
FINANCED
$66,000,000
Mo Beler
Michael Ianno
Keith Kurland
+ 4

California

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MultiFamily
Financed 09/13/2024
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Property Image
FINANCED

Kohlberg Kravis Roberts & Co. Provides $66 Million Refinance For Barings Core Property Fund Multifamily In Chula Vista

1660 Metro Avenue

See Similar Deals
MultiFamily
Financed 09/13/2024
Mo Beler
Michael Ianno
Keith Kurland
+ 4
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

The property asset involved is a multifamily complex located at 1660 Metro Avenue in Chula Vista, consisting of 309 units. The transaction involves a refinancing loan amount of $66,000,000 facilitated for the property known as Boardwalk at Millenia.

Summary of transaction details:

This refinancing deal was arranged by Walker & Dunlop’s New York team, representing Barings Core Property Fund, and is backed by Kohlberg Kravis Roberts & Co.

Players

Aaron Appel
Walker & Dunlop
Aaron Appel
193 deals$32.4B volume
BROKER
Jonathan Schwartz
Walker & Dunlop
Jonathan Schwartz
167 deals$27.1B volume
BROKER
Keith Kurland
Walker & Dunlop
Keith Kurland
172 deals$29.3B volume
BROKER
Adam Schwartz
Walker & Dunlop
Adam Schwartz
165 deals$25.6B volume(646) 491-8869
BROKER
Michael Ianno
Walker & Dunlop
Michael Ianno
51 deals$6B volume
BROKER
Mo Beler
Walker & Dunlop
Mo Beler
35 deals$6.4B volume
BROKER
William Herring
Walker & Dunlop
William Herring
8 deals$1.1B volume
BROKER
KKR
KKR
LENDER

Details

FINANCED
IMAGE: Aaron Appel, Adam Schwartz, Jonathan Schwartz, Keith Kurland, Michael Ianno, Mo Beler & William Herring DATE: 09/13/2024 ADDRESS: 1660 Metro Avenue MARKET: Chula Vista ASSET TYPE: Multifamily ~ UNITS: 309 LENDER: Kohlberg Kravis Roberts & Co. (@KKR_Co) LANDLORD: Barings Core Property Fund BROKERS: Aaron Appel, Adam Schwartz (@AdamSchwartz88), Jonathan Schwartz (@JonSchwartz), Keith Kurland (@KaKurland), Michael Ianno, Mo Beler (@MBeler) & William Herring - Walker & Dunlop (@WalkerDunlop) LOAN AMOUNT: $66,000,000 LOAN TYPE: Refinance LOAN TERMS: five-year floating rate NOTE: Walker & Dunlop arranged a $66 million refinancing for Boardwalk at Millenia, a 309-unit luxury apartment complex in Chula Vista. The deal, facilitated by Walker & Dunlop’s New York team on behalf of Barings Core Property Fund, was backed by Kohlberg Kravis Roberts & Co.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$66,000,000.00

Monthly NOI$440,000.00
Monthly Debt Service$417,164.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00